If anyone can provide a rational reason for them placing $2m in...

If anyone can provide a rational reason for them placing $2m in a term deposit last quarter - which theoretically could get them through most or all of next year and then raise another $3m right now I am all ears. If they were going to make an acquisition, surely it would make more sense to raise at the time of the acquisition and sell that upside to shareholders to rerate the share price higher?

To be clear, according to the release management have singled out "strong supporters" of the company to place out stock to. So in doing so, they are diluting other ordinary shareholders by 25%.

To top it off, directors want all shareholders to approve their own participation in the placement.

Couldn't be happier to have voted down the remuneration and bonus AGM resolutions.